Gap has to close 175 store in the US

Gap has to close 175 store in the US


Shop

The Gap, the once cool clothing brand is facing hard times and has to close 175 of its stores in North America. Europe is on the list too.

Created in 1969 and operating in 50 countries around the world, The Gap has long been considered as a reference in apparel, its basic style being synonymous with casual, simple but with an attitude, like its famous cargo pants. But the competition became really fierce when fast-fashion brands such as H&M or Zara emerged on the market. The Gap has been struggling to regain its place and became boring for the price. Cheap brands offer various styles for less money, customers tend to move faster than The Gap did and the retailer got stuck in its comfort zone.

"Returning Gap brand to growth has been the top priority since my appointment four months ago" said Art Peck, Chief Executive with a difficult challenge. To limit damages, the painful decision of closing stores has to be taken and was announced last month: The Gap will shut a quarter of its stores in North America. 140 closing will be effective this year followed by 35 more within the following years. This also means 250 positions to be cut at the retailer's offices. The closing of European stores is planned too, without further information at the moment. Let's hope this hard step is one towards recovery eventually.

*Photo: Dorsetdude

News written by the team of Stores-Locator.com Stores-Locator.com

News in the same category

Inside Costa Mesa Shopping Mall (California)

Inside Costa Mesa Shopping Mall (California)

California has always been a popular tourist destination for sun seekers, but many tourists are now flocking to California for different reasons.

  • Shop
PepsiCo goes into hospitality business

PepsiCo goes into hospitality business

PepsiCo is a few weeks away from launching an intriguing project called Kola House. Located in the Meatpacking District in New York City, this experimental venue aims to become the new place to be.

  • Shop
  • Leisures
Let's have a drink at Target in Chicago

Let's have a drink at Target in Chicago

Running errands then relax with a glass of wine without even leaving the store will soon be possible: Target is planning to include a bar in its new location in Chicago.

  • Shop
  • New Products
Martha Stewart is sold but not gone

Martha Stewart is sold but not gone

The world famous lifestyle guru, Martha Stewart, has just sold her company even though she will remain involved.

  • Shop
Gap has to close 175 store in the US